Located in the heart of Lake Panasoffkee at the intersection of C-470 and County Road 414, this property offers a unique opportunity for waterfront residential development. With the potential to create up to 13 single-family lots along the canal front and outlet river, this site is perfect for transforming into a picturesque waterfront community.Currently, the property includes one home and one mobile home, both requiring TLC, along with three dilapidated mobile homes that need to be removed. The redevelopment possibilities are immense, allowing for the creation of a modern, inviting neighborhood that takes full advantage of the stunning waterfront views. County Road 414 provides direct access to a scenic walking bridge that overlooks the outlet and leads to Marsh Bend “Outlet” Park. This park is a local favorite, featuring a public boat ramp, walking trails, a beach volleyball court, picnic areas, fishing spots, grill stations, and a pet area, enhancing the appeal of this location for future residents. Discover the potential of this exceptional property and imagine the waterfront lifestyle it can offer. Call or email us today to explore all the development possibilities.
Sold for $385,000 on 08/22/25
$385,000
2886 N C #470, Lake Panasoffkee, FL 33538
2beds
1,086sqft
Single Family Residence
Built in 1978
2.16 Acres Lot
$371,300 Zestimate®
$355/sqft
$1,445 Estimated rent
What's special
Zillow last checked: 7 hours ago
Listing updated: August 26, 2025 at 06:48am
Listing Provided by:
Robbie Shoemaker 352-303-6798,
FLAMINGO REAL ESTATE & MNGMT 352-689-1000
Bought with:
Kody Ondriezek, 3602850
FLAMINGO REAL ESTATE & MNGMT
Source: Stellar MLS,MLS#: G5092914
Originating MLS: Lake and Sumter

Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
Primary bedroom
- Features: Built-in Closet
- Level: First
- Area: 121 Square Feet
- Dimensions: 11x11
Primary bathroom
- Level: First
- Area: 35 Square Feet
- Dimensions: 5x7
Kitchen
- Level: First
- Area: 100 Square Feet
- Dimensions: 10x10
Living room
- Level: First
- Area: 100 Square Feet
- Dimensions: 10x10
Heating
- Central
Cooling
- Central Air
Appliances
- Included: Range, Refrigerator
- Laundry: Other
Features
- Ceiling Fan(s)
- Flooring: Other
- Has fireplace: No
Interior area
- Total structure area: 1,488
- Total interior livable area: 1,086 sqft
Property
Features
- Levels: One
- Stories: 1
- Exterior features: Other
Lot
- Size: 2.16 Acres
Details
- Additional parcels included: F31E029
- Parcel number: F31023
- Zoning: RPUD
- Special conditions: None
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Other
- Foundation: Crawlspace
- Roof: Shingle
Condition
- New construction: No
- Year built: 1978
Utilities & green energy
- Sewer: Septic Tank
- Water: Public
- Utilities for property: Electricity Connected
Community & neighborhood
Location
- Region: Lake Panasoffkee
HOA & financial
HOA
- Has HOA: No
Other fees
- Pet fee: $0 monthly
Other financial information
- Total actual rent: 0
Other
Other facts
- Listing terms: Cash,Conventional
- Ownership: Fee Simple
- Road surface type: Paved